Survey shows mainland market attractive to international citizens

2023-03-01 Editor : Li Yan ECNS App Download

The latest HSBC survey found that, as more markets resume normal travel after three years of fighting against COVID-19, a third of international citizens plan to relocate to another destination or return to their home market within the next 12 months, whereas 75 percent of survey respondents in the Chinese mainland said they would stay in their host location during the same period.

This proportion ranks among the highest across the nine host locations surveyed, demonstrating that the Chinese mainland market is attractive to international citizens, according to survey results announced by HSBC on Tuesday.

"China's reopening has promoted international trade and business exchanges as well as the movements of international citizens, and the country's connections and communications with the world will become closer and more frequent. HSBC expects that demands for cross-border financial services and international asset allocation will be further stimulated," said Zhang Jun, head of distribution, wealth and personal banking at HSBC for China.

Interviews were conducted with over 7,000 international citizens across nine host locations, including Australia, Singapore and the United States, providing insights into international customers' motivations to move around the world, the issues they face as they move across the globe and the trends of cross-border financial demands.

More than three quarters of those who have relocated to the Chinese mainland, or are planning to do so, are interested in making long-term investments in their new host location. This is about 10 percentage points higher than the average across the nine host locations in the survey.

Moreover, 81 percent of overseas investors who have relocated to the Chinese mainland, or are planning to do so, said they hope to learn about sustainable investment opportunities.


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